Roswell officials announce 14.76 million financing for downtown hotel; city says taxpayers won't be liable

City officials and developers at a Roswell groundbreaking on the downtown hotel project said the city's new financing program and a CPACE agreement have made the project possible.

"Today's groundbreaking means more than just the start of construction on a new hotel for the city of Roswell," an agency official said, framing the project as one that will "generate jobs and support our local businesses" and bring visitors to the city.

The official said the city supported the development through the Roswell Development Finance Program and "14.76 million in financing" was secured for the Camry project, adding the arrangement ensures "no financial liability to Roswell taxpayers." The transcript records that phrasing; the currency was not specified in the transcript.

A developer who described moving to Roswell in 2010 said the team approached the project "not just as developers, but as members of the community," and that the hotel was designed to meet a downtown need while supporting local businesses and residents. The developer credited the CPACE program the city helped assemble: "The CPACE program that the city put together for us, we couldn't have done it without them."

A project representative said guests will be able to enjoy a boutique hotel experience and learn to "enjoy the city of Roswell," thanking those who helped make the project possible and saying the team is "excited about what lies ahead."

Officials characterized the financing structure as protective of city taxpayers; the statement that the financing carries "no financial liability to Roswell taxpayers" is reported as the city's claim and was not independently verified in the transcript. No formal vote or other municipal action was recorded in the provided transcript excerpts. The developers and city said the project will move forward under the described financing and program arrangements.